IHT Wealth Management LLC trimmed its holdings in shares of American Tower Corp (NYSE:AMT) by 2.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,156 shares of the real estate investment trust’s stock after selling 73 shares during the quarter. IHT Wealth Management LLC’s holdings in American Tower were worth $499,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund increased its stake in shares of American Tower by 15,525.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 7,579,832 shares of the real estate investment trust’s stock valued at $48,000 after buying an additional 7,531,324 shares during the period. Vanguard Group Inc increased its stake in shares of American Tower by 6.7% during the third quarter. Vanguard Group Inc now owns 56,635,438 shares of the real estate investment trust’s stock valued at $8,229,130,000 after buying an additional 3,579,249 shares during the period. Vanguard Group Inc. increased its stake in shares of American Tower by 6.7% during the third quarter. Vanguard Group Inc. now owns 56,635,438 shares of the real estate investment trust’s stock valued at $8,229,130,000 after buying an additional 3,579,249 shares during the period. Jennison Associates LLC increased its stake in shares of American Tower by 203.6% during the fourth quarter. Jennison Associates LLC now owns 2,881,240 shares of the real estate investment trust’s stock valued at $455,783,000 after buying an additional 1,932,136 shares during the period. Finally, Cohen & Steers Inc. increased its stake in shares of American Tower by 91.3% during the fourth quarter. Cohen & Steers Inc. now owns 3,367,108 shares of the real estate investment trust’s stock valued at $532,643,000 after buying an additional 1,606,834 shares during the period. Institutional investors and hedge funds own 94.75% of the company’s stock.
In other news, EVP Amit Sharma sold 32,500 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $194.35, for a total transaction of $6,316,375.00. Following the transaction, the executive vice president now directly owns 177,193 shares in the company, valued at approximately $34,437,459.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Thomas A. Bartlett sold 51,203 shares of the business’s stock in a transaction dated Friday, January 18th. The stock was sold at an average price of $165.00, for a total transaction of $8,448,495.00. Following the transaction, the chief financial officer now owns 165,433 shares in the company, valued at $27,296,445. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 119,753 shares of company stock valued at $21,218,220. Corporate insiders own 0.87% of the company’s stock.
A number of equities research analysts recently commented on AMT shares. KeyCorp lifted their target price on American Tower from $170.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday, February 12th. Morgan Stanley boosted their price target on American Tower from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Monday, March 11th. Citigroup boosted their price target on American Tower from $176.00 to $186.00 and gave the stock a “neutral” rating in a research report on Monday, March 4th. Edward Jones cut American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, March 13th. Finally, Oppenheimer cut American Tower from an “outperform” rating to a “market perform” rating in a report on Thursday, February 28th. Twelve equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $177.25.
Shares of AMT traded down $1.87 during midday trading on Monday, reaching $196.09. 1,706,872 shares of the company were exchanged, compared to its average volume of 1,875,272. The company has a debt-to-equity ratio of 3.12, a current ratio of 0.68 and a quick ratio of 0.68. The stock has a market cap of $86.75 billion, a PE ratio of 24.54, a P/E/G ratio of 1.66 and a beta of 0.68. American Tower Corp has a 1-year low of $133.53 and a 1-year high of $198.19.
American Tower (NYSE:AMT) last released its earnings results on Wednesday, February 27th. The real estate investment trust reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $2.25 by ($1.63). American Tower had a return on equity of 19.86% and a net margin of 16.62%. The firm had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter last year, the company earned $0.51 earnings per share. The business’s revenue for the quarter was up 25.0% on a year-over-year basis. On average, research analysts anticipate that American Tower Corp will post 7.53 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Thursday, April 11th will be paid a dividend of $0.90 per share. This is a boost from American Tower’s previous quarterly dividend of $0.84. The ex-dividend date is Wednesday, April 10th. This represents a $3.60 dividend on an annualized basis and a yield of 1.84%. American Tower’s dividend payout ratio (DPR) is currently 45.06%.
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About American Tower
American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of over 170,000 communications sites.
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